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More on AT&T: 2013 free cash flow to fall from 2012's $19.4B. 1.1M Q4 wireless net adds,...

More on AT&T: 2013 free cash flow to fall from 2012's $19.4B. 1.1M Q4 wireless net adds, 780K postpaid. Verizon had 2.1M postpaid net adds. 10.2M smartphones sold, 8.6M were iPhones (AAPL). Wireless service revenue +4.2% Y/Y (was +4.5% in Q3). Postpaid ARPU was $64.98, up 1.9% Y/Y but down 0.3% Q/Q. Postpaid churn was 1.19% vs. 1.21% a year ago, total churn 1.42% vs. 1.39% prior. T -0.2% AH. CC underway (webcast). (PR) (slides)

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Comments (2)
  • mr_dinky_dot_bomb
    , contributor
    Comments (368) | Send Message
    Won't a drop of free cash flow be due to increased capital expenditures? The headline belies the forecast for a baseline forecast of 2% revenue growth and high single digit EPS growth?
    24 Jan 2013, 06:01 PM Reply Like
  • SA Editor Eric Jhonsa
    , contributor
    Comments (983) | Send Message
    It looks like capex is just part of the story. Capex is expected to go up by ~$1.5B next year, whereas free cash flow is expected to fall by more than $5B. That said, FCF has a habit of fluctuating year-to-year for telcos.
    24 Jan 2013, 06:05 PM Reply Like
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